Indian equity markets saw gains in the morning session on Friday as investors awaited a central bank policy decision. The Sensex rose by 0.48% to 74,717.57, while the Nifty traded 0.42% higher at 23,516.
Among sectors, the Nifty Media index surged by 1.81%, followed by a 0.97% increase in the Nifty Financial Services index. Healthcare-related indices also performed well, with Nifty Healthcare and Nifty Pharma gaining up to 0.82%, and Nifty Realty adding 0.71%.
On the flip side, Nifty Oil & Gas slipped by 0.06%, and Nifty Metal declined by 0.60%. IT and FMCG stocks remained stable, while both PSU banks and private banks showed slight gains.
Analysts noted positive signs in the market, citing weakness in the AI trade in the US, South Korea, and Taiwan. They mentioned the potential impact of a 25 bps rate hike by the Reserve Bank of India on banking stocks, which could benefit from higher interest rates.
Crude oil prices increased, with Brent crude rising by 0.88% to $95.87, and US WTI gaining 0.53% to $93.54. Meanwhile, Asian markets traded lower, with Japan’s Nikkei down over 1%, South Korea’s KOSPI plunging 5%, and Hong Kong’s Hang Seng declining by about 1%.
